Farmers, landowners and agribusinesses require specific services from their accountants.

As a large, independent firm, we believe we are well matched to providing these services to the agricultural sector.

Understanding you

We are committed to working closely with our agricultural clients.

By choosing to work with us, you will be kept up to date with topical tax planning matters through regular client meetings, seminars and releases.

You will receive constructive advice from well informed business and tax advisers.

How can we help you?

Trust advice
Audit for large agricultural businesses
Financial planning advice on pensions and investments
Introductions to other specialist professionals
Advice on the choice of accounting software and its operation
Making Tax Digital for farming businesses

Landed Estates

Owning and running a farm or landed estate is not just a business, it is a way of life...

Equestrian and equine

Ensuring you have advisers with in-depth knowledge of your business and the equestrian industry.

How have we helped?

Sale of land for development - VAT charged by promoters

Background: Many sales of land for development by farmers involve a promotion agreement with a third party (the promoter), who will obtain planning permission and market the land to potential developers.

How we have helped: The promoters will receive a fee for their work on the sale of the land as a percentage of proceeds, usually approximately 20%. This fee will have VAT charged on it at 20% which can be a significant amount with land sales for millions of pounds.

However, a sale of land is usually an exempt supply for VAT purposes meaning that VAT on related costs cannot be reclaimed.

We have helped many vendors to structure the VAT position on a sale of land for development, such that this VAT can be reclaimed

How have we helped?

Reorganisation of family farming company

Background: A long standing farming company owned land with possible future development potential. The company also owned rental properties with significant debt attached. The family wanted the son to succeed to the farming business, the rental properties to pass to other members of the family and the development land proceeds to reduce debt and be available for the family’s use.

How we helped: We worked with the family and the bank to find a tax efficient way of removing the farming trade and assets from the company. This involved setting up a group structure, re-arranging the finance and a distribution to the family through liquidation. The tax implications of the restructure involved corporation tax, capital gains tax, stamp duty land tax and VAT. By discussing and proceeding with the restructure before the potential development land increased significantly in value, the family benefited from a combined lower rate of corporation tax and capital gains tax. The restructure also improved the inheritance tax position in that after two years all the farmland and buildings qualified for business property relief as well as agricultural property relief.

Featured news

Farms and Estates update: Trust Registration Service and Property Ownership

Thursday 14 July 2022

All trusts are now required to register under the trust registration service (TRS) unless they fall within a specific exemption.

Farms and Estates update: Basic Payment Scheme Lump Exit Scheme

Tuesday 12 July 2022

With the phasing out of the basic payment scheme (BPS) and multiple pressures facing farmers in the current climate, some farming businesses may be considering a change of direction or ceasing.

Farms and Estates update: The National Minimum Wage and Accommodation Offset

Thursday 7 July 2022

National minimum wage (NMW) is a statutory employment right that guarantees employees a wage not lower than that set by the government.

Farms and Estates update: Meet our team

Tuesday 5 July 2022

A Q&A with Senior Manager in the Farms and Estates team, Hannah Reason.

Farms and Estates update: Inflation in the agricultural sector

Thursday 30 June 2022

All conventional farming businesses have been affected by increasing costs. As well as sector specific cost increases, such as fertiliser, the consumer prices index (CPI), rose by 7% in the 12 months to March 2022, the highest seen since March 1992, and is expected to hit 10% by the end of the year.

Agricultural Focus Summer 2022

Tuesday 28 June 2022

The latest edition of the Agricultural Focus for Summer 2022 is out now. We discuss inflation in the agricultural sector, national minimum wage and accommodation offset, BPS lump exit scheme and trust registration service.

Farms and Estates update: Farming Investment Fund - Applications now open

Tuesday 21 June 2022

Adding Value grant The Farming Investment Fund has allocated £30 million of funds to an ‘Adding Value’ grant which is now open for applications. This grant is designed to support farmers and growers in purchasing capital equipment to process, diversify and add value to their products.

Farms and Estates update: Changes to HMRC's trust registration

Monday 21 February 2022

In 2017, HMRC introduced new guidance for trusts, requiring them to register under the Trust Registration Service (TRS) when a liability to UK tax had been incurred. From September 2022, all trusts will now have to register under TRS, unless they fall within one of HMRC’s specific exemptions.

Farms and Estates update: Meet our team

Friday 18 February 2022

A Q&A with Tax Manager in the Farms and Estates team, Pip Cusack.

Farms and Estates update: VAT and other tax changes ahead

Wednesday 16 February 2022

Our Summer 2021 Focus included an article on furnished holiday lettings and the reduced rate VAT benefits. Time is running out on the reduced rate of VAT, in addition there are additional changes to VAT and tax reporting to be aware of.

Farms and Estates update: Natural Capital

Monday 14 February 2022

With the focus on climate change and the Government’s target of net zero emissions by 2050, coupled with the loss of income from the basic payment scheme, farmers will increasingly be looking at the natural capital on their farms, and how they can take advantage of this. In addition, there is likely to be increasing pressure from customers who will want to know the carbon impact of the products they are buying, be that the supermarkets or the end consumer.

Farms and Estates update: Reform of income tax basis periods

Friday 11 February 2022

In conjunction with the introduction of Making Tax Digital (MTD) for income tax, HMRC is now looking to tax profits in line with the tax year, rather than the current approach of taxing profits based on the accounting period of the business.